Watching $SOL drop from 83 to 79, to be honest, I have mixed feelings.
Many people have asked me if SOL is still worth buying. I'll say it directly: the current position is actually quite awkward.
Technically speaking, the RSI has fallen below 40, and the MACD is also in negative territory. Logically, this oversold condition should lead to a rebound. However, look at the trading volume; it's shrunk to only a quarter of its usual level.
What does this mean? Everyone is watching and waiting; nobody dares to make a move.
But institutional investors are making frequent moves. Large financial institutions are applying for SOL trusts, and DEX trading volume was still number one in February. But retail investors are experiencing a large-scale outflow of funds.
If the support level of 77.12 holds, there might be a small rebound to around 82. But if it breaks, then we'll see a direct drop to 75.
Short-term trading strategy:
Entry point: If the price retraces to around $77.10 and stabilizes, consider a small long position. Once the price breaks through the resistance level of $82.27 in the short term, consider following the strong upward trend, with a target set around $88.00.
Stop-loss and Take-profit: Set a stop-loss at $76.50 to avoid further losses. The short-term take-profit target is $81.50-$82.30, and a break above this level could extend to the $87-$88 range.
{future}(SOLUSDT)
{spot}(SOLUSDT)